EPFO settles more than One crore claims in the current financial year Employees Pension Fund deficit comes down to 2.5%



EPFO settles more than One crore claims in the current financial year Employees Pension Fund deficit comes down to 2.5%

Shri K.K. Jalan, Central P.F. Commissioner while reviewing the performance of EPFO for the month of January, 2015 noted that the organization has settled 11.05 lakh claims. 73% of the claims were settled within 10 days and 93% within 20 days. With this, the total claim settlement for the current financial year 2014-15 stood at 1.08 crore by January end. 91% of these claims were settled within 20 days signifying the organization’s readiness to settle all claims within 20 days as per the new standards to be implemented later on. Also, the organization was able to settle more than 11,000 grievances in the month of January alone.


January also saw the Organisation opening its first Special Corporate Office at Bandra, Mumbai to offer priority service to big and promptly complying establishments. It would be a carved out of the existing Regional Office, but would enjoy a high degree of functional autonomy.

It was also noted that the preliminary report of the Actuary appointed for actuarial valuation of the EPS fund has been received and the same reveals that the deficit has come down drastically and is less than 2.5% of the total liability. Likewise, the Actuarial report of the EDLI Scheme was also received and it was seen that with the available corpus, there can be further additions to the benefits provided under the Scheme for which several options are being mulled by the organization.

With a view to facilitate dissemination of information regarding the various new initiatives taken by EPFO for the benefit of the working class, it has been decided to organize awareness camps for the same especially in industrial areas and residential areas having a concentration of workers. The camps would focus, among others on publicizing UAN and other web based services.

In a major step aimed at improving the speed and transparency of the assessment proceedings under the EPF &MP Act, 1952, it has been directed to send notices for assessment proceedings through e-mail also so that the employer is communicated in a faster and more effective manner.

A special facility has been launched on EPFO’s website in the members’ portal to enable members to identify and trace out their old accounts marked as inoperative. This initiative is expected to empower the members to initiate the process to transfer their past PF accumulations to their current account.

During the month, in the course of the Zonal Addl. CPFCs’ conference, it was decided to focus on certain key areas like special efforts to identify ‘inoperative accounts, introducing digital life certificates for EPS pensioners and system assisted monitoring of compliance, especially with regard to construction and contract workers. It was also decided to introduce Aadhar based Bio-metric attendance system in all the offices of EPFO.

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Government Settled Pension Related Complaints: Dr. Jitendra Singh

The Union Minister of State (Independent Charge) of the Ministry of Development of North-Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances & Pensions, Atomic Energy and Space, Dr. Jitendra Singh has said that the government has been prompt in disposal of grievances received from pensioners from across the country. The Minister was addressing a meeting of All India Standing Committee of Voluntary Agencies of Pensioners (SCOVA), here today. As many as 11,390 pension related complaints had been settled by his department, he added.

Dr. Jitendra Singh said that the present government has announced a number of innovative measures to make the delivery of pension and related documents much more convenient and less time- consuming. In this context, he referred to the Aadhaar based “Jeevan Pramaan Package” launched by Prime Minister on November 11, 2014 which enables the pensioners to register online their life certificates in digital format. In this way, it eliminates the requirement for an elderly pensioner to physically walk all the way to the concerned authorities to deliver a certificate of his being alive, he said. So far, as many as 39,000 pensioners have already availed of the facility to submit their life certificates online, the Minister added.

As a part of the significant progressive e-Governance plan, Dr. Jitendra Singh informed that the Department of Pensions has started a web-based pensioners’ portal which is expected to serve as one-stop information source for pensioners across the country. The information available on the pensioners’ portal will include pension rules, different pension schemes, orders issued from time to time, pension calculation process, etc., he added.

In order to avoid delays, Dr. Jitendra Singh said, an online pension sanction and payment tracking system called “Bhavishya” has been introduced and so far 25 Ministries and Departments have already been initiated into this system. Similarly, he said, another web-based application called “Sankalpa” has been developed which provides a platform for pensioners to access opportunities available for useful interventions in the society.

Secretary Pensions, Govt of India, Shri Alok Rawat and Joint Secretary, Smt. Vandana Sharma made presentations on the occasion.

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EPFO settles more than One crore claims in the current financial year Employees Pension Fund deficit comes down to 2.5% EPFO settles more than One crore claims in the current financial year Employees Pension Fund deficit comes down to 2.5% Reviewed by Ajit Kumar on 8:13 PM Rating: 5

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